How should you respond when your copywriting niche starts shrinking?
As we all know, the world is changing fast. And it has been changing faster over the last couple of years than ever before.
One result of this rate of change is that the niche you have been working in so successfully for several years may now be in decline.
So what do you do?
The first thing to recognize is that prevention is better than a cure. Niche industry sectors rarely go into rapid decline overnight. It takes time. So if you see business in your niche slow down even a little, pay attention. Read the business press. Try to understand what is happening, and whether this is a temporary blip or a sign of permanent decline.
If you recognize a potential problem early on, you will have plenty of time to identify and build up an alternative niche.
It gets tougher, of course, if you go into a state of denial and persuade yourself things will pick up again soon, even when the signs indicate that they won’t.
If you do find yourself running on fumes and suddenly having to build up a new niche in a hurry, I would ask myself the following questions:
- Is there a related niche that is growing, so that I can at least leverage some of my existing experience and contacts? Maybe your niche was automotive. So how about looking at other transportation sectors?
- Is the niche totally lost, or has the money moved elsewhere? Maybe they used to spend a lot on direct mail, and now invest more heavily online. The answer there is to follow them online.
- If the niche really is lost, have I ever done work outside of that niche? If over the years you have done an occasional job outside of your primary niche, go back and take a look. Is there an opportunity in those areas?
- If I’m having to start with a blank slate, what business really interests me? Often we choose a niche not because we enjoy it, but because of the earnings potential it offers. When your niche dies it can present you with an opportunity to start afresh in an area you really enjoy.
- What’s happened to the people on my Rolodex? I know, you don’t have a Rolodex. But go through your old contact lists, find people you had good working relationships with and find out where they are working now. Knowing the right person who has already made a smart move to a new industry or sector can get you started in a whole different area.
There are probably more questions you can ask yourself, but that’s a good start.
However, as I mentioned before, try not to allow yourself to get into a place where you feel desperate. It’s tough selling yourself when you feel desperate and vulnerable.
Myself, I am always totally paranoid about my income, so even when one part of my business is doing really well, I’m still devoting some time to develop my Plan B. And C. And D.
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